The Effects of Oil Revenues Shocks on Real Non-oil Output (in Persian)

Ramin Mojab () and Seyed Mahdi Barackchian ()
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Ramin Mojab: Iran
Seyed Mahdi Barackchian: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2011, vol. 4, issue 9, 45-90

Abstract: The effects of oil revenue and monetary policy shocks on non-oil output is studied by modelling Long-run output function (using a stochastic differential equation approach) and estimating a partial VAR model (1988:2-2008:3). The results show that a positive oil revenue shock has a negative effect on non-oil GDP in the first period¡ but increases it in the following periods. Also¡ the results show that a monetary shock has a small role in explaining output variations. The results are controvetial and need further research. JEL Classification: C32, F43, Q32

Keywords: Non; oil GDP; Oil Revenue Shocks; Monetary Shocks; Partial VAR Model; Stochastic Differential Equation (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:4:y:2011:i:9:p:45-90

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